On the chart, we can see a hidden bullish divergence. This means that the price will probably increase in the next coming period. Also, the gap needs to be filled and the earning announcement looks positive, these suggestions are in line with the hidden bullish divergence.
So an entry can be taken when the price breaks to the upside. Take your profits at the targets. All further details are shown on the chart.
Goodluck!
Trade closed manually
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Upsloping trendline (support) is acting as it support . Unfortunately despite Hidden bullish divergence , the price can't break the resistance . No demand . Trading cancelled / trade closed manually with a small loss.
Trade closed: target reached
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Final target has been reached. Green recktangle is a buy zone now.
Thanks for your original post, I've been following this set up and curious if there's still an edge here. With a gap to be filled down to the $298 range, would shorting ADBE if it breaks the current support trend line be a high probability trade as well?
vf_investment
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@Here2fore, yes sir. if the upsloping support fails, you can short it.